Kolmar BNH may shift from a single-CEO system under sole chief executive Yoon Yeo-won to a co-CEO system by appointing former CJ CheilJedang Executive Vice President Lee Seung-hwa as a co-chief executive. In the industry, some say the sibling conflict between Kolmar Holdings Vice Chairman Yoon Sang-hyun and Kolmar BNH CEO Yoon Yeo-won could enter a new phase as a result.
According to the industry on the 12th, Kolmar BNH, a health functional food affiliate of Kolmar Group, plans to hold a board meeting on the 14th to discuss a proposal to change its management structure.
Earlier, through an extraordinary shareholders meeting last month, the company appointed Vice Chairman Yoon, the CEO's older brother, and former Executive Vice President Lee as new inside directors. Citing poor earnings, Vice Chairman Yoon's side led the board reshuffle, and CEO Yoon pushed back, calling it "management interference," bringing the sibling conflict into the open.
The discussion of a co-CEO system is seen as a compromise aimed at partially patching up the family dispute over control. If the system is finalized, CEO Yoon and former Executive Vice President Lee are expected to divide the business institutional sector and jointly lead the company.
A Kolmar BNH and Kolmar Holdings official said, "This is a matter under discussion by the board, and nothing has been finalized yet."